Kentucky sports bettors wagered 15.6% more money in May compared to the same month in 2024.
Key takeaways
- Gross revenue increased 21.3% from the previous May.
- The latest hold is the second highest year-to-date and the ninth of at least 12% since wagering began in September 2023.
- FanDuel and DraftKings both made more revenue in May than in April, despite lower handles.
The Kentucky Horse Racing and Gaming Corporation recently reported the handle spike came from $209.6 million in bets during a month dominated by the NBA and NHL Playoffs and MLB. Online and retail sports betting operators already eclipsed a $200 million handle for the fifth time this year, something they only did six times in 2024.
Sportsbooks claimed $26.2 million in gross revenue, a 21.3% year-over-year increase from a 12.5% hold, the second highest year-to-date. It’s the ninth time Kentucky sports betting produced a monthly win rate of at least 12%.
The $25.7 million in adjusted revenue led to $3.5 million in taxes for the commonwealth, which generated $18 million in income since the start of 2025.
Basketball goes bad for bettors
May's handle was down about $10 million compared to April. However, U.S. sports betting operators enjoyed great success during the NBA Playoffs, which likely led to a 10.5% month-over-month revenue increase despite lesser action.
The last full month of basketball in a state consumed by hoops helped up year-to-date total profit to over $133.5 million. March was the only month during that span operators had a single-digit hold as bettors’ success ran rampant during the NCAA tournament.
Sportsbooks hauled in around 11% more gross revenue during this April and May compared to the same period in 2024, thanks to a run of upsets throughout the postseason.
Top two operators bring in more with less
| Online Operator | May Handle | Revenue |
|---|---|---|
| DraftKings | $76.9 million | $9.4 million |
| FanDuel | $68.9 million | $9.9 million |
| bet365 | $20.2 million | $1.9 million |
| Fanatics Sportsbook | $11.2 million | $1.2 million |
| Caesars | $10 million | $727K |
| BetMGM | $9.9 million | $1.1 million |
Online sports betting generated $205 million in wagers and $25.6 million in gross revenue in Kentucky during May.
DraftKings led all operators with $76.9 million in May bets and hauled in $9.4 million in profit. However, FanDuel enjoyed a better hold, making $9.9 million in gross income from a $68.9 million handle. Kentucky’s top two market leaders both made more profit from lower month-over-month handles.
bet365 held down third-place with $20.2 million in wagers. The online operator produced nearly $2 million in gross revenue, nearly matching last month’s haul. Fanatics Sportsbook enjoyed a double-digit hold to bring in $1.2 million from an $11.2 million handle.
Caesars finished fifth with $10 million in bets, but the operator failed to reach the $1 million revenue mark for the fourth consecutive month, while BetMGM just eclipsed that figure off a $9.9 million handle.
ESPN BET enjoyed an 11% hold from a $5.6 million handle in May. Circa Sports bounced back from falling into the red in April with a $755,000 profit from a $2.2 million handle.
